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Reaching Retirement Readiness

January 5, 2023 Business insights

Study Reveals Plan Participants Are on a Positive Trajectory, Aided by Auto Features Being able to replace working income with income generated from retirement savings is the essential definition of retirement readiness. The percentage of working income that an individual may need in retirement will vary, depending on a number of factors, such as …

Tackling the Trend

January 4, 2023 Business insights

Dealing With Inflation’s Negative Effect on Employee Retirement Planning An August 2022 survey from Nationwide Retirement Institute found that 40% of workers age 45 and older plan to delay their retirement due to inflation and rising living costs. That figure is double the percentage of workers who said they delayed retirement last year due to the …

Retirement Plan Contributions

November 8, 2022 Business insights

Understanding 401(k) contribution limits can be confusing even sometimes overwhelming. They are, however, essential to know. Below is a break down of important contribution limits that help employees determine whether their savings are on track or have an opportunity to catch up. The annual contribution limit is a great goal to keep in mind. It …

Improving Retirement Plan Outcomes for Lower Income Workers

August 17, 2022 Business insights

Flexing on plan design features can help improve outcomes for lower income workers. Depending on the nature of your business and the varied experience, education and expertise required of your workforce, you may have a significant population of lower income workers. The Defined Contribution Institutional Investment Association defines low income …

Expand Your 401(k) Plan Participation

August 17, 2022 Business insights

Despite challenges, Americans remain focused on saving for retirement. In the face of economic uncertainty, market volatility, geopolitical unrest and the ongoing COVID-19 pandemic, plan participants have continued to save for retirement. Vanguard’s annual report, “How America Saves 2022,” cites a number of encouraging factors that are …